8-KMaterial Agreements

CENTERPOINT ENERGY INC 8-K Report, Material Agreement (Jul 28, 2006)

Filed July 28, 2006For Securities:CNP

Summary

This 8-K filing from CenterPoint Energy, Inc. (CNP) dated July 28, 2006, primarily reports on a material definitive agreement related to executive compensation. Specifically, the Board of Directors approved an increase in the annual salary for Byron R. Kelley, Senior Vice President and Group President, Pipelines and Field Services. This salary adjustment, effective August 1, 2006, reflects a change in compensation for a key executive. For investors, this filing indicates a decision by the company's leadership regarding executive remuneration. While the specific amount of the increase is detailed, the broader context of this decision within CenterPoint Energy's overall compensation strategy and its potential impact on financial performance is not elaborated upon in this particular report. Investors should consider this in conjunction with other disclosures regarding executive compensation and company performance.

Key Highlights

  • 1CenterPoint Energy, Inc. entered into a material definitive agreement.
  • 2The agreement concerns an increase in executive compensation.
  • 3Byron R. Kelley, Senior Vice President and Group President, Pipelines and Field Services, received a salary increase.
  • 4His new annual salary will be $360,000.
  • 5The salary increase is effective August 1, 2006.
  • 6The Board of Directors approved this compensation adjustment.

Frequently Asked Questions

The main purpose of this 8-K filing is to report a material definitive agreement regarding an increase in the annual salary of a key executive, Byron R. Kelley.

Byron R. Kelley is the Senior Vice President and Group President, Pipelines and Field Services at CenterPoint Energy. His new annual salary, effective August 1, 2006, will be $360,000.

Yes, the salary increase for Byron R. Kelley was approved by the Board of Directors of CenterPoint Energy, Inc.

No, this filing only reports the fact of the salary increase and the amount. It does not provide the specific rationale or justification for the adjustment.